If not IB...where?

G

gowron8

IB seems to be the best place to trade ECN platform forex right now, however I'm not at the point where I can put up min 25,000 cash for each of my trades to qualify for Ideal-pro. I'm used to dealing with 1-5 standard lots at 100:1 leverage (1k-5k cash range)
Can anyone suggest other good ECN based broker options that might fit my financial parameters?
Thanks
 
Quote from gowron8:

IB seems to be the best place to trade ECN platform forex right now, however I'm not at the point where I can put up min 25,000 cash for each of my trades to qualify for Ideal-pro. Thanks
More...

It's not a $25k minimum deposit; it's $25,000 notional at 50:1. You have to trade $25k lots of USD equivalent or >.
 
Quote from riskarb:

It's not a $25k minimum deposit; it's $25,000 notional at 50:1. You have to trade $25k lots of USD equivalent or >.
More...

So to clarify you can trade 25k lots with 50:1 leverage meaning one can enter a trade through Ideal-pro with a minimum 500 dollars cash from an IB margin account?
 
Quote from gowron8:

So to clarify you can trade 25k lots with 50:1 leverage meaning one can enter a trade through Ideal-pro with a minimum 500 dollars cash from an IB margin account?
More...

I don't know if there is a minimum deposit, but if so, it's nowhere near $25,000. Yes, otherwise the math is correct, 50:1 leverage.
 
Quote from gowron8:

So to clarify you can trade 25k lots with 50:1 leverage meaning one can enter a trade through Ideal-pro with a minimum 500 dollars cash from an IB margin account?
More...

Yes that is correct.
I believe, that you need $2000 to open a Margin-account at IB, but there are no minimum needs aside of that (so if your account falls below the $2000 you still are allowed to trade 25.000 in Forex margin).

Note you can trade odd lots above the 25.000 (so 25.075 or 26.456).
 
Quote from riskarb:

I don't know if there is a minimum deposit, but if so, it's nowhere near $25,000. Yes, otherwise the math is correct, 50:1 leverage.
More...

Ok. Thanks. My confusion stemmed from the fact that an IB CS rep told me that 25,000 USD minimum was required as margin to make a trade. Strange
 
You must log in or register to reply here.
Back
Top